Rhumbline Advisers Sells 25,586 Shares of World Kinect Co. (NYSE:WKC)

Rhumbline Advisers decreased its position in shares of World Kinect Co. (NYSE:WKC) by 12.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,394 shares of the company’s stock after selling 25,586 shares during the period. Rhumbline Advisers’ holdings in World Kinect were worth $5,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of World Kinect during the 4th quarter valued at $48,000. Centricity Wealth Management LLC acquired a new position in World Kinect during the 4th quarter valued at about $74,000. New Age Alpha Advisors LLC purchased a new stake in World Kinect in the fourth quarter valued at about $98,000. Savant Capital LLC raised its stake in World Kinect by 16.5% in the fourth quarter. Savant Capital LLC now owns 7,573 shares of the company’s stock valued at $208,000 after buying an additional 1,071 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in World Kinect by 17.0% in the fourth quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company’s stock worth $209,000 after acquiring an additional 1,104 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Stock Down 0.9%

World Kinect stock opened at $28.28 on Friday. The business’s 50-day simple moving average is $26.08 and its two-hundred day simple moving average is $27.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The company has a market cap of $1.60 billion, a PE ratio of 26.68, a PEG ratio of 0.89 and a beta of 1.35. World Kinect Co. has a fifty-two week low of $22.71 and a fifty-two week high of $31.71.

World Kinect (NYSE:WKC) last issued its earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. World Kinect’s revenue for the quarter was down 13.7% on a year-over-year basis. Equities analysts anticipate that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th will be issued a $0.20 dividend. This is an increase from World Kinect’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Tuesday, June 17th. World Kinect’s dividend payout ratio is 333.33%.

Analysts Set New Price Targets

Several research firms have recently issued reports on WKC. Stifel Nicolaus cut their price objective on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Bank of America dropped their target price on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research report on Friday, April 25th.

World Kinect Company Profile

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.